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FXCM Broker Review


riccia

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Re: FXCM

 

considering opening acct with them in the UK.....is it the same there too?

 

 

I already mentioned that FXCM UK is different because they allow you hedges, scalping and others. However, it is really hard to make money with them because spread is high most of the times.

 

I recommended Fxpro more than any broker.

 

Best wishes,

a New Year 2011 has come, and the challenge has just started 8-)
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Re: All About FXCM

 

FXCM broker may be better with IB by the name of ATC, which is an ECN type that charges $8.00 commision on a 1.0 lot.

 

I've been demoing them for two months now with good results on fapturbo and megadroid.

 

 

If anybody has any feed back on this, please don't hesitate.

 

thanks

 

barevan

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Re: All About FXCM

 

I heard the FXCM to be a some what good broker when compared to others..! Is it really true..?

 

I don't think so. FXCM is always a big scam cheater. They will wipe your money whether you make money or not.

 

PS: try to be as far as possible from this tricky broker.

a New Year 2011 has come, and the challenge has just started 8-)
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Re: All About FXCM

 

I'm currently using FXCM with a live account and I had problems on Aug 7 where there was a lot of market volatility on EURCHF. I couldn't open a trade or even close current ones, it would give me a "Incorrect request" error or similar. After calling them, they had to do it manually and told me "it happens sometimes, we don't really know why".

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Re: All About FXCM

 

Wanted to open an account with them. Sent all the necessary docs. The only thing left was to make fund transfer. I was taking my time but the sales rep was a bit pushy and kept asking me when I will make a deposit.

 

> Your login for funding is FX*****.

>

> We've been going back and forth for some time now.

> What is keeping you from funding this account?

>

> If you have any questions, or want to get started, contact

> me. My name is Aaron. I can be reached (toll free US &

> Canada) at 1-888-50-36739. My extension direct is 702514.

 

I was asking a few questions (i think previous 2 emails) and the above was his reply. In the end, I decided not to deal with them.

Indicators, EAs, Signals. Pilih Manual atau Auto?
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Re: FXCM

 

Hi guys,

 

The micro lot with FXCM is not that good because you have to use their platform, not MT4. The spreads are OK somehow for some pairs. I guess you can see that using a demo account.

 

There is actually big problem. You can't reach FXCM micro easily if you need their help. There is no chat online, and no fast assistance, and as a result of that, you will lose your money if the platform got stuck or froze the whole computer.

 

I hope you can find out more before you trade with them.

 

Good luck.

a New Year 2011 has come, and the challenge has just started 8-)
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  • 2 weeks later...

Re: All About FXCM

 

I'm actively looking for alternatives to FXCM. This morning closed a trade audusd resulted in 10 pips slippage at 14:08 broker time (GMT+1). They claim: "it happens", i say: "people live on 10 pips." They're investigating.

 

At Forex Capital Markets each of our customers is important to us, and we believe you have the right to a fair, swift and courteous service at all times.

 

We are in receipt of your complaint and we will deal with it promptly, effectively and in a positive manner.

 

 

Forex Capital Markets Complaints Procedure

 

 

1. We will acknowledge your complaint within 5 working days of receipt of your complaint.

 

2. We will investigate your complaint and endeavor to send a response to you as soon as possible however if we are unable to provide you with a final response within this time we will send you a final response to you within 8 weeks of receipt of your complaint. If we are unable to provide you with a final response within this time frame, we will write to you explaining why and advise you when you can expect a final response.

 

3. If more than 8 weeks from the date of your complaint has past and you haven’t received a final response, or you are dissatisfied with the final response you have received (at any stage of the process) you can write to:

 

Financial Ombudsman Service (FOS)

South Quay Plaza

183 Marsh Wall

London

E14 9SR

 

 

You must refer your complaint to the Financial Ombudsman within 6 months of the date on the final response.

 

Kindest Regards,

 

FXCM Sales

Forex Capital Markets, Ltd

145 Leadenhall Street

2nd Floor Rear

London, EC3V 4QT

Tel: +44 (0) 20 7398 4050

Fax: +44 (0) 20 7398 4051

Email: [email protected]

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Re: All About FXCM

 

fxcm for me was really bad with Metatrader. I would place orders and MT4 said i was in..then i would close them out for profit and strangely FXCM's own platform said i was never in the trade..or the both would sinc with the trade and then i would close out with MT4 and fxcm stayed open. This happened every day on nearlly every order. Personally i would never recomend FXCM to anybody serious in trading.

 

50pips

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Re: All About FXCM

 

I have warned you guys earlier, but nobody listen.

 

Problems:

 

1. Open trades, will never appear on your platforms until 5 minutes, worse case never open at all in which i have to call customer service to check.

 

2. Close trades, will never close trades until 5 minutes, it means your trades in losing position then you can close.

 

3. Platform hang, case like trade context is busy etc.

 

If you use EA, then all your trades gone mad.

 

Complain to them? No use, what is their answers? Simple, they used boston technology bla bla bla whereby it is directly link to the interbank and they are not market maker etc etc

 

See attached image, everything is possible, they will do anything to works like casino.

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Re: All About FXCM

 

FXCM was always on the bad broker list. Even if they claim they do not have a dealing desk, etc., it will not change the fact that they screw you over. There are other brokers and also with this NFA ruking in the USA, there is no guarantee that you will get filled all in one shot so now you are taking a risk. Even other MT4 brokers are now unpredictable with when you buy/sell.....

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Re: All About FXCM

 

What I can say, trade wisely, most of metatrader broker just a bucketshop, it means market maker. Don't believe on contest, deposit bonus etc. It's just a marketing tactics to get over your money. For newbie try deposit with minimal deposit.

 

For FXCM, its stated on website to open with minimal deposit of $2000, but i still can see introducing broker can open with $1000 and now $500, well well after all is all marketing.

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